While there is unlikely to be any major product innovation in the European market for mechanical power transmissions, manufacturers continue to strive for small design improvements that will further enhance product performance, reliability, error-free operation and product lifetime, notes business consulting firm Frost & Sullivan.
New analysis from Frost & Sullivan European Mechanical Power Transmissions Market finds that the market earned revenues of $2337.9-million in 2011 and estimates this to reach $2529.6-million in 2018. The research covers chain drives and belt drives.
Mechanical-power transmission components are relatively inexpensive compared with direct-drive or variable-frequency drives (VFD) technology and the simplicity of design, together with ease-of-use and maintenance, has led to its widespread adoption across every possible industrial application, notes the firm.
“Initial investments associated with mechanical power transmissions are significantly lower than advanced power transmissions technologies like direct drives or VFD. “As a result, several small-scale ventures prefer to invest in these cost-effective solutions, rather than VFD technology,” says Frost & Sullivan power transmission research analyst Ramasubramanian Natarajan.
Mechanical power transmissions are used across a range of end-user applications, spanning materials handling, machine tools, robotics, mining and construction to the packaging, printing, agriculture, marine, and process industries. This large installed base has meant that sizeable potential exists for replacement sales, states Frost & Sullivan.
“Trends are currently favouring complete solutions, starting from belt and chain selection to installation and servicing, this will provide significant opportunities for retrofitting and servicing,” Natarajan points out.
He adds that although this may be the case, limited innovation and product differentiation, paralleled by rapid advancements in alternative power transmission technologies like VFD, pose a serious threat to the market’s future.
“As in most industries, customer satisfaction is also perceived as the key to success in the European mechanical-power transmissions market. Price, quality, ease-of-use and maintenance, availability in large quantities and after-sales support will drive the market in the future. “Another aspect of service, and one becoming increasingly important, is the ability to provide fast and reliable lead and delivery times,” he highlights.
Frost & Sullivan notes that targeting the correct end-users with transmission solutions designed specifically for their applications will strongly enhance the prospects for product sales and, by so doing, custom-made designs will also gain popularity.